Abercrombie & Fitch Boosts Q4 Net Sales Growth Outlook

Abercrombie & Fitch

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Kaufen / Verkaufen

(RTTNews) - Ahead of the meeting with analysts and investors at the ICR Conference later on Monday, specialty retailer Abercrombie & Fitch Co. (ANF) raised its net sales growth guidance for the fourth quarter, and now expects net sales growth for full-year 2024 at the top-end of the prior forecast range.

For the fourth quarter, the company now expects net sales growth of 7 to 8 percent from the fiscal fourth quarter 2023 level of $1.45 million, implying net sales between $1.55 million and $1.57 billion. Previously, the company expected net sales growth of 5 to 7 percent.

Looking ahead to fiscal 2024, the company now projects net sales growth of around 15 percent from $4.3 billion in fiscal 2023, up from the prior forecast for a growth of 14 to 15 percent. This implies net sales of $4.945 billion.

On average, analysts polled by Thomson Reuters expect the company to report revenue growth of 7.53 percent to $1.56 billion for the quarter and revenue growth of 15.05 percent to $4.92 billion for the year.